The Oklahoma Securities Department made the accusations in the Oklahoma County District Court.

The regulator is asking the judge to permanently ban Travis and his companies from selling any more interests in invention.

Travis claimed his invention uses gravity and no other input to perpetually generate electrical power, according to the Securities Department.

Travis formed a company called Hydro Energy Revolution LLC in 2010. He formed a successor company Hydro Energy LLC in 2013.

Between 2010 and 2015, Travis and his companies raised $2.2 million from investors in Oklahoma and at least 18 other states, according to the lawsuit.

Investors believed those funds would be spent on prototypes, research, salaries, attorneys, experts, patents and other development costs.

Instead, the petition claims that Travis spent the money on vacations, and gifts.

Another $314,000 worth of investor funds was withdrawn from bank accounts as cash.

Travis vowed to contest the allegations in court. He said: “The state has their opinion. What can we say? We’re working on our business. They’re interrupting it. We’ve been fighting it since they made the same allegations in 2015.”

The legal action Travis is fighting is a civil lawsuit. However, he is not facing a criminal case.

Travis said the FBI closed its investigation.

In 2015, the FBI subpoenaed the bank records of Wayne Travis as part of its investigation. It is unclear what happened to that investigation and at the time, calls were not returned to the FBI’s public information office nor the United States Attorney’s office.

The only thing that has been confirmed is that there is no current criminal investigation that has been announced.

Travis said: “They returned all my files and apologized. I’ve never heard of the FBI returning evidence if they’re going to file charges.”

Travis told reporters that he is still working on his free energy machine.

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